One of the most valuable applications of BI and business metrics is maximizing the performance improvements enabled by major business and technology initiatives. An effective set of business metrics and associated analysis processes can motivate proper behavior while providing powerful insight into where attention should be focused in order to maximize quantifiable results.
The Revere Group assists its clients in developing and implementing processes for identifying an integrated set of business performance metrics, implementing measurement/analysis mechanisms and processes, and taking action based on the insight that is generated. This approach is designed to provide business and IT teams with an approach and best practices for working together to define and use business metrics to significantly improve business performance.
Revere works with its clients to:
- Identify the priority business objectives of the performance management program.
- Define the key business initiatives related to business objective(s) that will be the focus of the program.
- Define the set of metrics to be used to measure the effectiveness of the business initiatives in addressing the business objectives, and ways in which the metric information will be actively used to improve performance. This will include an integrated set of leading/lagging indicators as well as comparison and drill down analyses.
- Define and implement the processes to be used to collect and analyze the data, act upon the information, and continually refine and improve the use of the metrics on an ongoing basis.
- Design and implement the technology architecture, dashboards, and analysis tools that will be used to support the initiative.